Section 10930.4.
Cal. Insurance Code - INS § 10930.4.
in effect(a)
A solvency loan obtained by a CO-OP shall be treated as a surplus note and shall be subject to the same requirements as are imposed on mutual insurers pursuant to Article 4 (commencing with Section 4040) of Chapter 4 of Part 1 of Division 2. The commissioner may request any documentation relating to a CO-OP’s start-up loan or solvency loan.
(b)
A CO-OP shall be subject to the same securities permit requirements as are imposed upon mutual insurers pursuant to Section 4042;
however, the commissioner shall have the authority to waive the requirements under Section 4042 upon a determination that they are not applicable following a full review of the CO-OP’s plan of operations and any other documents as requested by the commissioner prior to the admission of the CO-OP.
References
referencesCal. Insurance Code - INS § 4040.
referencesCal. Insurance Code - INS § 4042.
Source: CA Legislative Counsel Bulk DataURL: https://downloads.leginfo.legislature.ca.gov/pubinfo_2025.zipFetched: 6/27/2026